The following data for Throwback Industries Inc. relate to the payroll for the week ended December 7, 2014:

The following data for Throwback Industries Inc. relate to the payroll for the week ended December 7, 2014:
















Employee
Hours
Worked
Hourly
Rate
Weekly
Salary
Federal
Income Tax
U.S. Savings
Bonds
Aaron 46 $68.00 $766.36 $100
Cobb 41 62.00 553.20 110
Clemente 48 70.00 691.60 120
DiMaggio 35 56.00 411.60 0
Griffey, Jr. 45 62.00 618.45 130
Mantle $1,800 432.00 120
Robinson 36 54.00 291.60 130
Williams 2,000 440.00 125
Vaughn 42 62.00 533.20 50



Employees Mantle and Williams are office staff, and all of the other employees are sales personnel. All sales personnel are paid 1½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0%, and Medicare tax is 1.5% of each employee’s annual earnings. The next payroll check to be used is No. 901.



Instructions
1. Prepare a payroll register for Throwback Industries Inc. for the week ended December 7, 2014. Use the following columns for the payroll register: Employee, Total Hours, Regular Earnings, Overtime Earnings, Total Earnings, Social Security Tax, Medicare Tax, Federal Income Tax, U.S. Savings Bonds, Total Deductions, Net Pay, Ck. No., Sales Salaries Expense, and Office Salaries Expense.

2. Journalize the entry to record the payroll for the week.


Answer:















1. PAYROLL FOR WEEK ENDING December 7, 2014
Employee
Total
Hours
EARNINGS DEDUCTIONS PAID ACCOUNT DEBITED
Regular Overtime Total
Social
Security
Tax
Medicare
Tax
Federal
Income
Tax
U.S.
Savings
Bonds Total
Net
Pay
Ck.
No.
Sales
Salaries
Expense
Office
Salaries
Expense
Aaron 46 2,720.00 612.00 3,332.00 199.92 49.98 766.36 100.00 1,116.26 2,215.74 901 3,332.00
Cobb 41 2,480.00 93.00 2,573.00 154.38 38.60 553.20 110.00 856.18 1,716.82 902 2,573.00
Clemente 48 2,800.00 840.00 3,640.00 218.40 54.60 691.60 120.00 1,084.60 2,555.40 903 3,640.00
DiMaggio 35 1,960.00 1,960.00 117.60 29.40 411.60 558.60 1,401.40 904 1,960.00
Griffey, Jr. 45 2,480.00 465.00 2,945.00 176.70 44.18 618.45 130.00 969.33 1,975.67 905 2,945.00
Mantle 1,800.00 108.00 27.00 432.00 120.00 687.00 1,113.00 906 1,800.00
Robinson 36 1,944.00 1,944.00 116.64 29.16 291.60 130.00 567.40 1,376.60 907 1,944.00
Williams 2,000.00 120.00 30.00 440.00 125.00 715.00 1,285.00 908 2,000.00
Vaughn 42 2,480.00 186.00 2,666.00 159.96 39.99 533.20 50.00 783.15 1,882.85 909 2,666.00
16,864.00 2,196.00 22,860.00 1,371.60 342.91 4,738.01 885.00 7,337.52 15,522.48 19,060.00 3,800.00
2. Sales Salaries Expense 19,060.00
Office Salaries Expense 3,800.00
Social Security Tax Payable 1,371.60
Medicare Tax Payable 342.91
Employees Federal Income Tax Payable 4,738.01
Bond Deductions Payable 885.00
Salaries Payable 15,522.48